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[–] Woodsap 0 points 1 point (+1|-0) ago 

Closing thoughts:

Bitcoin has had quite an interesting start in life:

It's open source nature and the disruptive way it approaches currency attracted the techies, investors, and speculators

The fact that anyone in the world with only a smartphone and an internet connection can send or receive it - with no banks or money transfer services involved, provide an opportunity for the billions of people on the planet that don't have access to a modern banking system to participate in a global economy.

It's decentralized and uncontrolled nature tended to attract people who don't like central governments meddling in a nations monetary policy - in the US Libertarians.

It's unregulated status was pretty sweet looking to the people wanting to launder money or to outright sell illegal goods and services to the public.

It's novelty and complexity opened the door for rip off artists, con men, and incompetents.

In response to all of the reasons listed above and Bitcoin's continuing popularity, governments across the world are now starting to take a look at it, and are beginning to impose their own regulations on the use and exchange of the currency. Some are choosing to restrict the anonymity inherently provided by the currency, while some want to limit it's use and potential impacts on their own state run currencies, and others would prefer to ban it out right, while some have decided to embrace it, and still others are sitting back and taking a wait and see attitude.

You can see a neat summery of Bitcoin legality by country here.

I want to believe in the promises bitcoin holds, but am also fully aware of all the challenges it has to overcome, so I limit my investment, purchases, and risk to something that I can personally accept.